June 2010 Honolulu Condominium Market Report – Nauru Tower

June 19th, 2010 Michael Zimmerman Posted in Market Reports, Nauru Tower Comments Off

Summary
Nauru Tower sales have been extremely slow in the first half of 2010.  This is in sharp contrast to many of the competing Kakaako condo buildings which are experiencing strong demand.  Five 1-bedroom apartments are for sale and there is a nice assortment of 2-bedroom apartments for sale.  In addition, a rarely available parking space is for sale.

The chart above shows the number of sales recorded each month vs. the number of apartments available for sale at the end of each month.  As you can see, the number of apartments for sale has been rising in 2010 after declining through most of 2009.  In the last six months, Nauru Tower averaged two sales every three months and if that pace continues, it will take over 16 months to sell the 11 apartments on the market. 

Nauru Tower Condominium
1330 Ala Moana Blvd., Honolulu, HI 96814
Built: 1991

Schools
Elementary School: 
Kaahumanu
Middle School:  Central
High School:  McKinley

Features
Conveniently located across the street from the Ala Moana Beach Park and just one block from the
Ala Moana Shopping Center and Ward Centers.

Availability
Apartments in the building:  302
Apartments available for sale:  11
Average days on market to date:  110
Apartments listed for sale in the last 30 days:  0
Months of inventory available:  16.5

Sales
Apartments under contract in escrow:  0
Apartments sold in the last 120 days:  2
Average days on market:  195
Average price per square foot:  $733.61
Sales Price / List Price:  93%

Would you like to learn more?  Please visit my web site to view Nauru Tower apartments for sale or conduct your own Honolulu condo search.  Contact Michael Zimmerman for a no obligation consultation if you’re considering selling or buying a home or investment property.

Contributed by Michael Zimmerman
Direct: 808-457-9683
Michael@Michael-Zimmerman.com
www.Michael-Zimmerman.com
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February 2010 Honolulu Condominium Market Report – Nauru Tower

February 20th, 2010 Michael Zimmerman Posted in Market Reports, Nauru Tower Comments Off

Summary
Despite a sluggish Oahu economy, Nauru Tower sales really took off at the end of 2009.  That leaves very few apartments for buyers to choose from.  Nevertheless, there are a few high floor 2-bedroom apartments for sale and two parking stalls are also available.  In addition, there is a high floor 1-bedroom leasehold apartment for sale, but it is fairly expensive.

Nauru Tower Apartments Listed vs. Sold Graph

The chart above shows the number of sales recorded each month vs. the number of apartments available for sale at the end of each month.  As you can see, the number of apartments for sale steadily declined during the last year.  In the last six months, Nauru Tower averaged two sales each month and if that pace continues, it will take over 2.5 months to sell the 5 apartments on the market. 

Nauru Tower Condominium
1330 Ala Moana Blvd., Honolulu, HI 96814
Built: 1991

Schools
Elementary School: 
Kaahumanu
Middle School:  Central
High School:  McKinley

Features
Conveniently located across the street from the Ala Moana Beach Park and just one block from the
Ala Moana Shopping Center and Ward Centers.

Availability
Apartments in the building:  302
Apartments available for sale:  5
Average days on market to date:  90
Apartments listed for sale in the last 30 days:  0
Months of inventory available:  2.5

Sales
Apartments under contract in escrow:  2
Apartments sold in the last 90 days:  3
Average days on market:  20
Average price per square foot:  $743.09
Sales Price / List Price:  94%

Would you like to learn more?  Please visit my web site to view Nauru Tower apartments for sale or conduct your own Honolulu condo search Contact Michael Zimmerman for a no obligation consultation if you’re considering selling or buying a home or investment property.

Contributed by Michael Zimmerman
Direct: 808-457-9683
Michael@Michael-Zimmerman.com
www.Michael-Zimmerman.com
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August 2009 Nauru Tower Condominium Market Report Honolulu

August 10th, 2009 Michael Zimmerman Posted in Market Reports, Nauru Tower Comments Off

Summary
The sales rate at Nauru Tower continues to be slow, in line with the Oahu economy.  There are many high floor apartments for sale, so if you are looking for unobstructed, breathtaking ocean views, you have many choices
.  Five of these apartments have been on and off the market over 200 days, indicating they may not be priced right to sell.  Again, if you’re interested in purchasing here, you never know which of these apartment owners may be willing to accept an offer significantly lower than the asking price.  There are two high floor 1-bedroom apartments for sale and one is leasehold, but it’s no bargain.  Buyers should be mindful that financing some leasehold properties can be very difficult depending on the lender and loan program.
Nauru Towers Listed vs. Sold

The chart above shows the number of sales recorded each month vs. the number of apartments available for sale at the end of each month.  As you can see, the number of apartments for sale doubled in the last half of 2008, but the number has come down from the winter high.  In the last six months, Nauru Tower averaged one sale every other month and if that pace continues, it will take over 13 months to sell the 9 apartments on the market. 

Nauru Tower Condominium
1330 Ala Moana Blvd., Honolulu, HI 96814
Built: 1991

Schools
Elementary School: 
Kaahumanu
Middle School:  Central
High School: 
McKinley

Features
Conveniently located across the street from the Ala Moana Beach Park and just one block from the
Ala Moana Shopping Center and Ward Centers.

Availability
Apartments in the building:  302
Apartments available for sale:  9
Average days on market to date:  109
Apartments listed for sale in the last 30 days:  2
Months of inventory available:  13.5

Sales
Apartments under contract in escrow:  2
Apartments sold in the last 90 days:  1
Average days on market:  277
Sales Price / List Price:  88%

Would you like to learn more?  Please visit my web site to view Nauru Tower apartments for sale or conduct your own Honolulu condo MLS search Contact Michael Zimmerman for a no obligation consultation if you’re considering selling or buying a home or investment property.

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April 2008 Nauru Tower Condominium Market Report Honolulu

April 7th, 2009 Michael Zimmerman Posted in Market Reports, Nauru Tower Comments Off

Summary
The sales pace at Nauru Tower has slowed in conjunction with the overall economy.  The number of apartments for sale is at its highest point in a year, so t
here is a nice mix of apartments to choose from.  Two of these apartments have been on the market over 300 days; neither is priced to sell.  When I wrote my last Nauru Tower market report in October 2008, there were no 1-bedroom apartments for sale.  Now, five are available and one of those is a high floor leasehold unit (it is no bargain).
 
 Nauru Listings vs. Sales

The chart above shows the number of sales recorded each month vs. the number of apartments available for sale at the end of each month. As you can see, the number of apartments for sale varied quite a bit over the past year, but has doubled since mid 2008. In the last six months, Nauru Tower averaged under one sale per month and if that pace continues, it will take more than 16 months to sell the 14 apartments on the market.

Nauru Tower Condominium
1330 Ala Moana Blvd., Honolulu, HI 96814
Built: 1991

Schools
Elementary School: 
Kaahumanu
Middle School:  Central
High School: 
McKinley

Features
Conveniently located across the street from the Ala Moana Beach Park and just one block from the
Ala Moana Shopping Center and Ward Centers.

Availability
Apartments in the building:  302
Apartments available for sale:  14
Average days on market to date:  114
Apartments listed for sale in the last 30 days:  3
Months of inventory available:  16.8

Sales
Apartments under contract in escrow:  2
Apartments sold in the last 90 days:  1
Average days on market:  96
Sales Price / List Price:  91%

Would you like to learn more?  Please visit my web site to view Nauru Tower apartments for sale or conduct your own Honolulu home MLS search Contact Michael Zimmerman for a no obligation consultation if you’re considering selling or buying a home or investment property.

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October 2008 Nauru Tower Condominium Market Report Honolulu

October 30th, 2008 Michael Zimmerman Posted in Market Reports, Nauru Tower Comments Off

Summary
The sales dynamics of Nauru Tower have improved dramatically since the June 2008 Nauru Tower Condominium Market Report
.  Most of the apartments that had been on the market for a long period of time have been sold or withdrawn.  There is a nice mix of apartments recently listed for sale to choose from.  Curiously, there are no 1-bedroom apartments available as I write.  Of special note, there is an extremely large (1892 sq. ft.) 38th floor apartment for sale.  It’s been several months since something this large has been available. 

The credit crunch has slowed the real estate sales pace, so sellers should be patient.  Nevertheless, Nauru Tower is situated in a prime location and buyers will return fully recognizing that fact.  Living at Nauru offers all the great things I mentioned in a previous post titled Top 10 Reasons Why You Should Live in Ala Moana

Nauru Tower Condominium
1330 Ala Moana Blvd., Honolulu, HI 96814
Built: 1991

Schools
Elementary School:  Kaahumanu
Middle School: 
Central
High School: 
McKinley

Features
Conveniently located across the street from the Ala Moana Beach Park and just one block from the
Ala Moana Shopping Center, Ward Centers and the Whole Foods Market currently under construction.

Availability
Apartments in the building:  302
Apartments available for sale:  10
Average days on market to date:  81
Apartments listed for sale in the last 30 days:  3
Months of inventory available:  8.6

Sales
Apartments under contract in escrow:  3
Apartments sold in the last 30 days:  1
Average days on market:  38
Sales Price / List Price:  96%

Would you like to learn more?  Please visit my web site to view Nauru Tower apartments for sale or conduct your own Honolulu home MLS search Contact Michael Zimmerman for a no obligation consultation if you’re considering selling or buying a home or investment property.

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June 2008 Nauru Tower Condominium Market Report Honolulu

June 9th, 2008 Michael Zimmerman Posted in Market Reports, Nauru Tower Comments Off

Summary
Since the March 2008 Nauru Tower Condominium Market Report, the sales dynamics of Nauru Tower have not improved much.  In that report, I noted five units had been listed for sale over 200 days; they are still with us.  They were removed from the market for a short time and re-listed for sale, but that doesn’t change the fact that they have been available for several hundred days.  That said, there is a great mix of one and two-bedroom units for sale (low, mid and high floor).  All but one of the eight units for sale are said to be in excellent condition.  The best advice I have for both buyers and sellers is to study the most recent sales data before deciding on an offer or selling price.

Nauru Tower Condominium
1330 Ala Moana Blvd., Honolulu, HI 96814
Built: 1991

Schools
Elementary:  Kaahumanu
Middle:  Central
High:  McKinley

Features
Conveniently located across the street from the Ala Moana Beach Park and just one block from the Ala Moana Shopping Center, Ward Centers and the Whole Foods Market currently under construction.

Availability
Units in the building:  302
Units available for sale:  8
Average days on market to date:  69**
Units listed for sale in the last 30 days:  5
Months of inventory available:  6.9

**This figure is misleading as several units were previously on the market over 200 days.  The listings either expired or were withdrawn and then were subsequently listed for sale again.  This practice artificially reduces the average days on market figure.

Sales
Units under contract in escrow:  2
Units sold in the last 30 days:  1
Average days on market:  257
Sales Price / List Price:  92%

Would you like to learn more?  Please visit my web site to view Nauru Tower units for salecontact Michael Zimmerman for a no obligation consultation or conduct your own Honolulu home MLS search.

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March 2008 Nauru Tower Condominium Market Report Honolulu

March 12th, 2008 Michael Zimmerman Posted in Market Reports, Nauru Tower Comments Off

Nauru Tower Condominium

1330 Ala Moana Blvd., Honolulu, HI 96814
Built: 1991

Elementary School:  Kaahumanu
Middle School:  Central
High School:  McKinley

Feature
Conveniently located across the street from the Ala Moana Beach Park and just one block west of the Ala Moana Shopping Center.

Summary
Of the 11 units available for sale, three have been on the market over 300 days (two of those three have been on and off the market dating back to mid 2006) and two units have been available for over 200 days.  Why aren’t these units selling?  It’s not location.  It’s not condition as all are advertised to be in excellent condition.  So that leaves price.  It appears there are quite a few owners who may not be all that serious about selling their home.  At some point, one or more of these units may present a great opportunity for a patient buyer.

There are very few three bedroom units available in Nauru Tower, but one is available as of March 12.  This unit combines the two bedroom unit 3301 and one bedroom unit 3302.  It even has a bonus room that can be used as a fourth bedroom or a den.  This unit isn’t for everyone, but presents a unique opportunity for someone looking to reshape the unit to their liking.

Availability
Units in the building:  302
Units available for sale:  11
Average days on market to date:  167
Units listed for sale in the last 30 days:  2
Months of inventory available:  6.6

Sales
Units under contract in escrow:  2
Units sold in the last 30 days:  3
Average days on market:  153

Would you like to learn more?  Please visit my web site to view Nauru units for salecontact Michael Zimmerman for a no obligation consultation or conduct your own Honolulu home search.

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